The last date for filing income-tax returns has been extended to August 5.
Tax returns for 2015-16 (assessment year 2016-17) were originally to be filed by July 31. But in view of the day-long strike at public sector banks, the deadline has been extended to August 5.
For Jammu and Kashmir, the deadline will be August 31 in view of the ongoing turmoil in the state.
“In view of today’s bank strike and disturbance in J&K, the due date of IT return filing is being extended,” Revenue Secretary Hasmukh Adhia said in a tweet on July 29.
For assessees across India liable to file I-T returns by July 31, the deadline is extended up to August 5, he said. “For assessees in J&K, this date has been extended to August 31,” the secretary added.
Here is an easy guide to file your income tax return, online or offline:
Selection of tax form
notice by govt.
The selection of the tax form depends on your source of income. ITR-1, ITR-2A and ITR-2 are for salaried individuals, ITR-5 and ITR-6 are for companies.
This is a form you get from your employer. If you have changed jobs over the last year, then you will have more than one Form 16. This form has all the information required to prepare your tax return. It has two parts, Part A and Part B.
Other than Form 16, you should also have your bank statements, interest certificates, and your housing loan certificate (in case of housing loan).
Also, download Form 26AS from the e-Filing website. Form 26AS shows the income for which taxes are deducted at source, it is an annual tax credit statement.
Filing your return
After completing the tax return forms, it has to be uploaded on the e-filing website. E-Filing of a tax return is compulsory for individuals with income above Rs 5,00,000. Once the return is successfully uploaded, an auto-generated acknowledgement is sent to you. This needs to be verified, either by signing and submitting the acknowledgement, or by submitting it online. Once this is completed, the process of filing your return is complete.